morning thoughts..
We said of selling pressure near stiff resistance zones of 5100 on nifty front and the markets remained volatile and deceptive all the way through.
Technically the picture remains the same and the undertone remains strong and bullish.
However the indices will see selling pressure at higher zones with selective stock specific activities.
So one needs to concentrate on stock specific and refrain from indices trading.
From a trading point of view , I would continue to book profits at higher levels and adopt a buy on dips strategy and refrain from huge shorts until I get a strong sell signal below 4900 levels on nifty which is a strong pschyological levels for the markets to deal with.
On the upside 5150 would remain as the centre and pivot point for a breakout and reaction , so it’s the make or break levels for the future course of the markets. The supports for the nifty is at 4950 levels and resistance at 5150 levels.
The supports for the sensex is at 16800 levels and resistance at 17400 levels.
Yesterday’s calls sent via sms and messenger
Fii Gail – buy at cmp 382 sl x targets x – 3 days (booked full profits at 385 the same day)
Jackpot Mphasis bfl – buy at cmp 782 sl x targets x – 3 days (booked full profits at 794 the same day)
Punter Dhampur sugar – buy at cmp 141 sl x targets x – holding
Dii Pfc – buy at cmp 237 sl x targets x – 3 days (booked full profits at 242 the same day)
Btst Mastek – buy at cmp 304 sl 299 targets 325 (booked full profits at 311 the same day)
Stbt Ivrcl infra – sell at cmp 397 sl 404 targets 380 (booked full profits at 386 the same day)
Tisco – buy at cmp 538 sl 534 targets 547 , went 543.55
Lic – buy at cmp 885 sl 881 targets 897 , went 903.80
Ranbaxy – buy at cmp 416 sl 414 targets 422 , hit sl
Sail – buy at cmp 185 sl 183 targets 189 , went 188.25
Nifty – sell at cmp 5040 sl 5068 targets 5000 , went 5006
Tisco 540 ca - buy at cmp 16 sl 14 targets 20 , hit sl
Nifty 5000 pe – buy at cmp 60 sl 54 targets 73 , went 72.85
Icici bank 920 ca – buy at cmp 18.65 sl 17 targets 22 , went 25.10
Monday’s Punter Idfc – booked full profits at 173.10 , long from 171
Monday’s Btst Ekc – booked full profits at 155.20 , long from 149.35
Monday’s Stbt Ifci – booked full profits at 49.85 , short from 51.35
